Analysts Set PBF Energy Inc. (NYSE:PBF) Price Target at $36.09

Shares of PBF Energy Inc. (NYSE:PBF) have received a consensus rating of “Reduce” from the fifteen research firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $34.45.

A number of equities analysts recently commented on PBF shares. Morgan Stanley decreased their target price on shares of PBF Energy from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. JPMorgan Chase & Co. lowered PBF Energy from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $53.00 to $40.00 in a research note on Wednesday, October 2nd. Piper Sandler cut PBF Energy from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $47.00 to $25.00 in a research note on Friday, September 20th. UBS Group dropped their price objective on PBF Energy from $57.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Finally, Scotiabank decreased their target price on shares of PBF Energy from $45.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th.

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital purchased 300,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average cost of $29.01 per share, for a total transaction of $8,703,000.00. Following the completion of the transaction, the insider now directly owns 25,640,498 shares of the company’s stock, valued at $743,830,846.98. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders bought 4,257,400 shares of company stock valued at $135,462,347. Corporate insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PBF Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC lifted its holdings in shares of PBF Energy by 32.9% during the second quarter. Acadian Asset Management LLC now owns 1,401,667 shares of the oil and gas company’s stock valued at $64,489,000 after purchasing an additional 347,268 shares during the last quarter. LSV Asset Management boosted its holdings in PBF Energy by 2.7% in the second quarter. LSV Asset Management now owns 1,290,947 shares of the oil and gas company’s stock worth $59,409,000 after acquiring an additional 34,470 shares in the last quarter. American Century Companies Inc. boosted its holdings in PBF Energy by 3.4% in the second quarter. American Century Companies Inc. now owns 993,301 shares of the oil and gas company’s stock worth $45,712,000 after acquiring an additional 32,862 shares in the last quarter. Private Management Group Inc. grew its position in PBF Energy by 27.5% during the 3rd quarter. Private Management Group Inc. now owns 848,696 shares of the oil and gas company’s stock valued at $26,267,000 after purchasing an additional 183,183 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of PBF Energy by 14.8% during the second quarter. AQR Capital Management LLC now owns 654,464 shares of the oil and gas company’s stock valued at $29,883,000 after buying an additional 84,532 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Trading Down 1.5 %

Shares of PBF stock opened at $28.08 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The firm has a market cap of $3.29 billion, a P/E ratio of -10.84 and a beta of 1.56. The business has a 50-day moving average price of $32.15 and a two-hundred day moving average price of $40.24. PBF Energy has a 12-month low of $27.94 and a 12-month high of $62.88.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.40) by ($0.10). The firm had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.27 billion. PBF Energy had a negative return on equity of 2.78% and a negative net margin of 0.84%. The firm’s quarterly revenue was down 21.9% compared to the same quarter last year. During the same period in the prior year, the company earned $6.61 EPS. Equities analysts anticipate that PBF Energy will post -2.27 EPS for the current fiscal year.

PBF Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.92%. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, November 13th. PBF Energy’s payout ratio is presently -38.61%.

PBF Energy Company Profile

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.